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Cabot Oil & Gas Corp COG

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Morningstar’s Analysis

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Cabot Aims for Flat Volumes in 2021, With Reduced Capital Expenditure

Analyst Note

| Dave Meats, CFA |

Cabot delivered dry natural gas production of 2,375 mmcf/d in the fourth quarter, which was 1% lower sequentially and 3% lower year over year. This exceeded the top end of guidance (2,300–2,350 mmcf/d). Likewise, the firm’s financial results were slightly better than expected, with adjusted EBITDA and adjusted earnings per share coming in at $225 million and $0.26, respectively, (FactSet consensus estimates were $215 million and $0.21).

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Company Profile

Business Description

Houston-based Cabot Oil & Gas is an independent exploration and production company with operations in Appalachia. At year-end 2019, Cabot's proved reserves were 12.9 trillion cubic feet of equivalent, with net production of approximately 2,500 million cubic feet of natural gas per day. All of Cabot’s production is Marcellus dry natural gas.

840 Gessner Road, Suite 1400, Three Memorial City Plaza
Houston, TX, 77024
T +1 281 589-4600
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2021
Stock Type Hard Assets
Employees 503